against Ocwen Federal FSB of West Palm Beach, Florida, and he was represented in this by fellow attorney Paul Ngobeni. The 123-page lawsuit in Hanson v. Ocwen Federal Bank outlined a six-year running battle over late charges and fees. He was joined in the suit by 57 individuals who claimed to have been injured by Ocwen. The lawsuit sought $1.5 billion in punitive and exemplary damages but was settled out of court for an undisclosed sum. On December 19, 2013, California Attorney General Kamala D. Harris announced a $2.1 billion mortgage settlement with Ocwen Financial Corporation and Ocwen Loan Servicing over alleged mortgage servicing misconduct. California homeowners eligible to receive an estimated $268 million in first lien principal reductions and nearly $23 million in cash payments. This agreement is with a total of 49 states with $2 billion used to cover loan modifications and principal reductions for the people who lost their homes between January 1, 2009, and December 21, 2012, and those people whose loans were serviced by OCWEN. "OCWEN took advantage of borrowers at every stage of the process", said Richard Cordray, Director of the Consumer Financial Protection Bureau. As part of the agreement, founder William Erbey resigned from the company's board over conflicts of interest, though Ocwen paid him $1.2 million dollars in the process. References External links A copy of the 67-page California Complaint A copy of the 173-page California Consent Order FDIC report on Ocswen liquidation Companies listed on the New York Stock Exchange Financial services companies of the United States